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21st of January 2018

Economy



Markets continue record run, Nifty settles at 10,681; post 6th weekly gains

Benchmarks ended at record highs for the second straight session on Friday, as investors remained hopeful of upbeat corporate earnings despite lacklustre numbers from TCS. The BSE Sensex gained 88.90 points to end at 34,592.39, while the broader NSE Nifty finished at 10,681.25, up 30.05 points. The indices suffered a bout of volatility mid-session following an unprecedented press conference by four senior judges of the Supreme Court where they mounted a virtual revolt against the chief justice and listed a litany of problems afflicting the country’s highest court. However, buying momentum resumed soon, which propelled the markets to record levels. This was the sixth weekly gain in a row for the benchmarks. During the week, the Sensex gained 438.54 points, or 1.28 per cent, while the Nifty rose 122.40 points, or 1.15 per cent. “Positive trade in global market and expectation of revival in domestic earnings from H1FY18 is upholding the healthy sentiment.

On the other hand, concern over December CPI inflation and increase in oil prices are likely to add volatility in the near term,” said Vinod Nair, Head of Research, Geojit Financial Services.

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